Monday, January 6, 2014

Janet Yellen confirmed as Fed's first female chair

Janet Yellen has been confirmed as the first female Federal Reserve chair. She sailed through the Senate confirmation process, thanks in part to Sen. Harry Reid (D-Nev.) invoking the "nuclear option," making it significantly easier to pass judicial and executive branch nominees. With only 56 senators voting in favor of Janet Yellen, she would not have had the votes necessary to be confirmed if the Senate confirmation rules were not changed. Janet Yellen is the first major executive branch nominee to be confirmed since these rules were changed. RT's Perianne Boring takes a look at the confirmation process of the most powerful woman in finance.